Silver futures decline to Rs 45,461 per kg

December 16, 2013
New Delhi-India (Dec 16)    Silver prices fell 0.54 per cent to Rs 45,461 per kg at the futures trade today as speculators trimmed positions due to weak cues from global markets.

On the Multi Commodity Exchange, silver for delivery in May 2014 traded lower by Rs 246 or 0.54 per cent to Rs 45,461 per kg in a business turnover of five lots.

Similarly, the white metal for delivery in March declined Rs 231 or 0.52 per cent to Rs 44,545 per kg in a business volume of 282 lots.

In the international market, silver traded 0.7 per cent lower at $19.57 an ounce in Singapore.

Market analysts said a weak trend in precious metals overseas amid speculation that the Federal Reserve policy makers may decide to start cutting back asset purchases this week, and as a survey showed that holdings in exchange-traded products will contract further next year, led to fall in silver prices at the futures trade here.

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